(Yicai) March 6 -- Shares of Sanxing Medical Electric surged by their daily trading limit after the Chinese power equipment supplier said it secured a transformer order from a Dutch distribution system operator worth EUR117 million (USD136.5 million), making a breakthrough in the related Western European market.

Sanxing Medical [SHA: 601567] jumped 10 percent to CNY29.41 (USD4.26) a share as of 2.15 p.m. in Shanghai today.

Sanxing Medical's Swedish subsidiary has penned a deal to supply oil-immersed transformers to Enexis Netbeheer, the Ningbo-based parent company announced late yesterday, without disclosing further details, including product specifications, supply amount, and delivery schedule.

Oil-immersed transformers are a main energy transformation gear, mainly used in power grid distribution, industrial, new energy, and infrastructure scenarios. Enexis Netbeheer focuses on building, maintaining, operating, and expanding power and gas distribution networks and providing relevant services, Sanxing Medical said.

Sanxing Medical's revenue from power equipment accounted for 80 percent of its total in the first half of last year, achieving breakthroughs in Europe and Latin America in 2024 by winning bids for large transformer supply projects in Greece, Mexico, and Brazil. The new deal has marked a major step forward in the high-end power distribution market in Western Europe.

Editor: Martin Kadiev